Business setup in Dubai or the U.A.E. can be challenging if you haven’t studied the market. My advice is to start with the service sector, where your investment would be minimal. Also, try to open your business up in a free zone, as you will reap benefits from it in the long run. Remember, there are no shortcuts; you have to work hard. Setting up a business in the UAE requires hard work, persistence, networking, and, of course, skill!
I had always heard about business formation in the UAE as a viable means of earning returns. The only problem was that I did not know how. I have a background in advertising—digital advertising, to be precise. In the past, I had been associated with ad agencies in Pakistan that handled accounts such as Unilever, Mondelez, Reckitt, and Benckiser, to name a few. I knew some acquaintances who had opened a business in Dubai by acquiring a trade license there. In this blog, I briefly throw light on how I set up my business of advertising in the UAE.
With a shaky economy in Pakistan, I decided to give a shot at business formation in the U.A.E. My aunt sponsored me, and I and my partner embarked on our journey to the Emirates, where I was welcomed by my friends and associates.
Emirates Free Zones
After consulting them, I got to know a surprising little fact, which was about the free zones in U.A.E. In essence, if you opt for a company formation in the U.A.E. in one of the designated free zones, you assume complete ownership of the company without having to get into a partnership with an Emirati national.
The United Arab Emirates currently operates 45 free zones, with a further 9 under-construction. A company formation in Dubai free zone gives you:
- Complete ownership of the enterprise
- Complete import and export exemptions from the government
- Exemption on personal income taxes
- Assistance from the government on labor recruitment
The Dubai Multicommodities Center (DMCC) for business was my target, as all the tech giants and FMCG champions have their offices there. Getting a trade license there was easy peasy—in fact, with the help of Emirates Express Business Man services, I got my license on the same day. I requested that they expedite my process, and the folks were courteous enough to grant my request.
Going About the Business in Dubai
My partner and I rented out a co-working space in DMCC. Since we are operating in the service sector, the operating and fixed costs were the bare minimum. Besides, we were provided with all the furniture, internet, free coffee, and systems at a very modest rent.
The very first thing we did was to build our brand. Getting a logo done was a bit of a hassle, but after an umpteenth time, we got it designed by a digital artist in Sharjah. After that, we started investing in our social media presence by boosting our scope of services.
Treading Water
Cold calls didn’t work, nor did bulk e-mails. The trick to success was to set up a one-on-one meeting with potential clients and explain how our agency could add value to their business. Slowly but surely, we were getting clients on board. I remember giving my employees big talks on confidence, presentation, and interpersonal skills. We believed in ourselves; we knew we’d win.
What I noticed was that plenty of real estate clients were taking interest in our services, and rest assured, we did not disappoint them. We enabled them to rank higher on Google, as well as promoted them to their relevant TG on social media.
It’s our third year since starting business in Dubai, and we are way ahead of the targets we initially set. The agency is certainly going from strength to strength. We have a nice portfolio of clients and a team of 20 talented digital media enthusiasts.